The Internet has many methods of raising money for victims. When you have suffered a serious injury and have incurred sizable medical bills, a victim will likely go after a settlement from either a third party or their insurance company. But what happens if the settlement is not enough? Or, you don't have the luxury of waiting until a settlement is reached? Sometimes, an accident victim or their family will turn to crowdfunding platform GoFundMe in an attempt to raise money from others to cover their losses.
GoFundMe allows those in need to solicit financial aid online. It can be a great way to alleviate the financial burden that could follow from a medical emergency brought on by personal injury or motor vehicle accident. However, many victims ask us if opening a GoFundMe campaign will affect your personal injury settlement. The answer is a bit complicated, but we will offer some insight in the article below.
If you have questions about GoFundMe and personal injury settlements, it's best to consult with a personal injury lawyer to get answers. Brandon J. Broderick has practiced in the area of personal injury for decades and can provide clients with sound advice in your situation.
Can I Start a GoFundMe Campaign and File a Personal Injury Claim?
As a result of someone else's negligence, some people need immediate medical attention. This may happen after being involved in a slip and fall, a truck accident, a dog bite, or construction site accident.
It's possible that an insurance settlement might be more convenient than filing a lawsuit. But, it's possible that there will be lengthy negotiations or a lengthy legal process to reach that settlement. It is possible that your lawyer suggests filing an insurance claim and suing for more money than is covered by the policy.
You can potentially do both options and even set up a GoFundMe campaign to raise additional funds. It all depends on your specific situation, your injuries and the amount you have incurred in medical care, insurance policy limits, and the laws for your state. Consulting with a lawyer is the best option for any case, as the answer may be different, depending on where the accident happened and where you live.
Limitations With GoFundMe
The unpredictability and possibly contemptuous attitudes of potential donors is a major downside of internet fundraising platforms like GoFundMe. When you are in need, it is sometimes hard to encourage people to donate, which is why many campaigns fall well short of their fundraising goals. It is difficult to raise the money needed for life-saving operations and other procedures, even for popular celebrities with large online followings.
Only a small fraction of those asked for donations are likely to really donate to your campaign. While any amount given is appreciated, it's possible that donations will only cover a small portion of your total cost.
GoFundMe Donations & Medi-Cal Or Medicare Benefits
Donations from GoFundMe contributions are considered "assets" or "income" by the IRS. The unfortunate result of this is that an injured party may no longer qualify for government-sponsored medical programs such as Medi-Cal or Medicare if they receive too much from a GoFundMe campaign.
To avoid having their access to either program, victims of personal injuries should speak with an experienced personal injury lawyer as soon as they can.
Need Legal Help? Our Personal Injury Law Firm Can Provide Support
A personal injury case is not always simple. Many times, the assistance of a personal injury lawyer is needed to get you the compensation you deserve. Even if you have your own insurance policy, they would try to underpay or even reject your claim. Contact the team at Brandon J. Broderick, Attorney at Law if you have issues with your personal injury case. We are here to help.
Our law firm offers free consultations, so please get in touch asap. Our experience and skilled team of lawyers can help get you through the toughest legal situations.